Protecting Your Customers Data

One of the most important parts of any business is the relationship you have with customers. With a positive customer relationship, your business will become trusted, which helps to ensure brand loyalty and a positive reputation, all of which can lead to increased sales and profit. However, an often forgotten aspect of building the relationship is customer data protection. Keeping their sensitive information or assets secure is of the utmost important. Here are some things you can do to help protect your customer’s data.

The best thing you can do to prevent a security breach is to implement preventative security measures. Data security should not only include general business data but personal data as well. Part of preventative measures also includes creating a customer outreach plan in the event that a breach does occur. It may be helpful to also create a breach incident plan. This way, in the event of a breach, everyone in the company will be on the same page when it comes to how to respond.

It is also important to note that when a business has a security breach, not only does it hurt your customers, it also hurts you company as well. In fact, according to a study done by the Ponemon Institute and Symantec, an average security breach will cost a business around $5 million. On top of this, many states have tough laws in place regarding data breaches and if you fail to meet disclosure laws, it can result in lawsuits and even more steep fines. Small businesses are especially vulnerable to security breaches since the fines associated with a breach are often too large to absorb. This is why it is extremely important that your business has a security system in place to help protect sensitive customer data.